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SpareBank 1 SMN (OSL:MING) Change In Branch Structure; Amendment To Articles Of Association, Control Committee; Authority Regarding Subordinated Loan

SpareBank 1 SMN (OSL:MING) At its meetings on 26 November 2008 the Supervisory Board of SpareBank 1 SMN made the following decisions:

CHANGE IN BRANCH STRUCTURE

DECISION:

The Supervisory Board decided to cease offering banking services on shop premises at Jøa (Fosnes municipality), Lauvsnes (Flatanger municipality), Leka, Mosvik and Osen, and to close the branches at Høylandet, Lensvik (Agdenes municipality), Namdalseid, Namsskogan, Roan and Sørli (Lierne municipality). The Supervisory Board further decided to amend Articles 1-1 and 3-2 of the bank's articles of association in accordance with the above.

Article 3-2 first paragraph is amended such that voting rights are assigned to depositors who hold and have held a deposit of at least NOK 500 with the bank for the last 6 months. Election districts are brought into line with the amendment to Article 3-2 first paragraph.

AMENDMENT TO ARTICLES OF ASSOCIATION, CONTROL COMMITTEE

DECISION:

The Supervisory Board hereby decides that SpareBank 1 SMN's articles of association, article 4-1, shall be amended in accordance with the Board of Directors' recommendation.

AUTHORITY REGARDING SUBORDINATED LOAN

DECISION:

The Supervisory Board hereby authorises the Board of Directors to raise subordinated loan capital, collectively or separately, distributed as follows:

Dated subordinated loan NOK 650 million Perpetual subordinated loan NOK 1,000 million Hybrid equity NOK 400 million

or the equivalent in foreign currency.

The authorisation is valid until the final accounts for 2008 are adopted.

Contact persons:

CEO Finn Haugan on +47 900 41 002 Executive Director Kjell Fordal on +47 905 41 672 Executive Director Marvin Wiseth on + 47 918 67 931

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

SpareBank 1 SMN

www.smn.no

ISIN: NO0006390301

Stock Identifier: XOSL.MING

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SpareBank 1 SMN

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